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We all know that the world is digitized with more automated Apps to make our task easier. Similarly, after the arrival of Taxi Booking App, it made a revolutionary change in the Taxi business industry.
It made easy and comfortable for the customers to hire a taxi by booking them online through Taxi Booking App of the company. Hope you all know about the Uber and Ola App.
Do you think this Taxi Booking App or the taxi dispatch software will benefit only the customers? No, it will help the drivers and the taxi business owners.
A rigid App can be utilized by all the companies running the taxi business. In addition to the benefits to customers and drivers, It will assure the proper financial management for the owners by using the automated driver billing and payouts in the Taxi Booking App
In this article, we will see why all the taxi booking apps must have an automated driver billings and payouts.
The taxi booking app will have a driver wallet and driver settlement.
Driver wallet is a feature in the taxi booking app to collect the commission and incentives of the drivers. Each driver will have a driver wallet.
The functioning of the driver wallet has 2 options and the convenience of the owner is considered for the options.
Here in this option, Driver has to load the wallet with a certain amount. For example, Driver X loaded $1000 in his wallet.
Once the ride finishes, they will receive the commission automatically. The driver wallet will be verified as per the owner convenience like the end of day or week or month.
Imagine if the total commission to be paid by the driver is $500 then at the end driver’s wallet balance will be $1000-$500=$500
Suppose driver’s commission to be paid to the owner is $1500, i.e the amount is more than the wallet balance then the wallet balance at the end will be $1000-$1500=-$500. Here the negative sign shows that the driver’s commission is still pending $500 to the owner.
Here in this option, the driver need not load the wallet in the beginning. The initial wallet balance will be zero.
After each ride, the commission will be taken at the month end and suppose the total commission is $1500 at the end, the wallet balance will be -$1500.
The driver should load the total commission amount to his wallet to maintain the initial zero balance.
To say in simple words, the former option is similar to prepaid service and the later one is postpaid service.
This feature consist of 2 sections
Payout is paying out the total amount to the driver after analyzing all the factors like penalty, commission, incentives at the end.
Here the driver should pay the amount to the owner after analyzing all the factors at the end. The main use of this driver settlement is the proper management of all the plans and it can be executed in an effective way. It helps to manage the finances in your own way.
In this App, the customer may pay the cash or use the card to pay the fare. When it is cash payment, the driver will get the money in hand. whereas in card payment the money will directly be paid to the taxi company.
If it is cashless payment, the total commission amount the driver need to receive will be in the payout section and the driver will receive the amount at the end of the cycle.
Admin can control the flow of money by using this driver settlement feature.
Suppose the drivers have to pay the outstanding amount to the owner then the admin can allocate the cashless payment rides to those drivers and those outstanding amount will be taken automatically.
Hope in this article you will find why all the taxi booking apps must have an automated driver billing and payout and we have seen how efficient the billing system overall. For your better understanding, we have also discussed how the automated driver billing and the payout options work in Taxi Booking App.
To know about how the feature works for your Cab business, Try a Free Taxi Dispatch Software Demo
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